‘Hedge fund lobbying’: Tories wine and dine 45 tycoons in 12 weeks

The Tories held lavish private dinners for 45 wealthy businessmen and hedge fund chiefs over the course of 12 weeks in 2014. Critics say the tycoons are funding marginal Conservative seats that could sway the result of the general election.

In the Conservatives’ most recent transparency filing, details of
glitzy dinners held for wealthy donors have caused controversy.

According to official figures, private dinners were hosted for
members of Prime Minister David Cameron’s “leaders
group” whose collective donations to the Conservatives since
2011 surpass £40 million.

The tycoons have recently channeled £5 million towards various
Conservative constituency groups, 70 of which relate to marginal
Tory seats. In return for handing over £50,000 each, they receive
direct access to Cameron and his cabinet members.

The extravagant dinners differ markedly from other Conservative
fundraising events such as black tie balls. They are reportedly
much more intimate evenings, where donors can freely discuss
politics and policy with key government ministers.

Cameron said in 2010 lobbying was “the next big scandal
waiting to happen” in Britain.

However, since the Tories have been in power, anti-corruption
think tank Transparency International UK says British politics
has been blighted by at least 14 major lobbying scandals.

The think tank says such scandals include MPs and select peers
agreeing to lobby for payment, the coalition’s failure to
publicly disclose evidence for certain policy decisions, and
evidence of a revolving door between business and politics.

‘Political wing of hedge fund industry’

The Tories' transparency filing shows key Conservative ministers
wined and dined scores of its top donors between October and
December 2014.

It also indicates the PM personally hosted wealthy hedge fund
manager Sir Michael Hinzte at a private dinner last October.

Labour’s Shadow Cabinet office minister, Jon Ashworth, said the
revelations suggest the Tories had effectively become the
“political wing of the hedge fund industry.”

Ashworth warned a self-interested group of hedge fund chiefs and
businessmen are assisting the party in buying the general
election. He stressed these are the very millionaires the
Conservatives recently offered tax cuts to.

Tories received 33 times more in donations than the Greens.
Tory money comes from hedge funds and tax avoiders. Green money
from the people

Another donor who attended the Tories’ private dinners is Swiss
national Georg von Opel. Opel has been resident in Switzerland
since 1973. Renowned for its financial secrecy, the country is a
hive of hedge fund activity.